HMRC Inheritance Tax receipts
Did you know that HMRC Inheritance Tax receipts increased by 8% in the last tax year? HMRC collected a massive £5.2billion in Inheritance Tax in the 2017/18 tax year. This sum is only expected to rise in the coming years. Click here to read the full article.
Is your estate over the current Inheritance Tax threshold? Do you want protect more of your estate for your heirs? If you answered yes, then you need to take action now, before it’s too late.
What can I do?
There are several things you can do to reduce your estate for Inheritance Tax purposes, which will enable you to pass on more of your hard earned wealth to your loved ones. One way of reducing your estate value is by making the most of your gift allowances. Over time, these gifts will reduce your estate.
It is also crucial that you have valid Will in place, as this can help reduce, or even mitigate your Inheritance Tax liability. Bruce Forsyth saved his estate millions of pounds in IHT by passing his estate to his wife.
Click here to find out more about your gift allowances and other ways in which you can reduce your estate for Inheritance Tax.
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